Women's political action committees (PACs)—those committees founded by women to raise money for women candidates—have been and will likely continue to be an important part of American electoral politics. In this article, we investigate the impact of EMILY's List, because it is the standard bearer of women's PACs and is commonly cited as crucial to women's electoral success. Empirical studies of EMILY's List impact to date have largely assumed causal inference by using traditional linear models. We use a propensity score—matching model to leverage on causality and find that an EMILY endorsement helps some candidates and hurts others. Our findings set the stage for further and more nuanced investigations of when, where, and how EMILY's List can enhance the likelihood of electoral success for women.